HashKey plans to acquire all shares of the Singapore licensed derivatives exchange APEX

HashKey Holdings Limited's latest announcement states that its wholly-owned subsidiary HKDAG SG has entered into a non-binding framework agreement with the major shareholders of the Singapore Derivatives Exchange APEX regarding a potential acquisition of all its equity. The acquisition price and payment arrangements have yet to be determined.

According to HashKey, APEX holds a recognized exchange license issued by the Monetary Authority of Singapore, and its member company Asia Pacific Clear holds a recognized clearing house license, possessing comprehensive issuance and clearing capabilities. HashKey indicated that if the acquisition is completed, it will help establish a more scalable regulated presence in Singapore.

The announcement also emphasizes that the proposed acquisition is subject to the execution of final documents and obtaining approval from MAS before it can be finalized. As of the announcement date, neither party has executed any final documents, nor has MAS approval been obtained, and the transaction may or may not proceed.